By Jennifer Chiou
New York, Nov. 3 - HSBC USA Inc. priced $5.85 million of zero-coupon 98% principal-protected notes due Nov. 3, 2011 linked to the performance of a basket of equally weighted currencies relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
J.P. Morgan Securities Inc. is the agent.
The underlying currencies are the Brazilian real, Russian ruble, Indian rupee and Chinese renminbi.
The payout at maturity will be $980 per $1,000 principal amount plus 110% of any basket gain, up to a maximum payout of $1,145 per note.
Investors will receive at least $980 per note.
| Issuer: | HSBC USA Inc.
|
| Issue: | 98% principal-protected notes
|
| Underlying currencies: | Brazilian real, Russian ruble, Indian rupee and Chinese renminbi, equally weighted versus dollar
|
| Amount: | $5.85 million
|
| Maturity: | Nov. 3, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | $980 plus 110% of any basket gain, capped at 14. 5%; floor of 98% of par
|
| Initial spot rates: | 1.74515 for real, 29.1211 for ruble, 46.965 for rupee and 6.8275 for renminbi
|
| Pricing date: | Oct. 30
|
| Settlement date: | Nov. 4
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | 1%
|
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